We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
 COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative financial impact on a number of Indian power and steel companies, says Fitch Ratings.
The decision is broadly credit negative for these sectors, but should have no impact on the ratings of any Fitch-rated steel or power sector corporates.
According to Fitch, the decision to cancel 214 of 218 coal licences follows a ruling in August in which the SCI declared the licence allocation process as arbitrary and illegal. The cancelled licences include 46 producing or near-production blocks, and are owned largely by power and steel sector companies. The producing mines will be allowed to continue operations until March 2015, at which point they will be handed back to state firm, Coal India Limited, until they are sold as part of a new auction process.
Companies with cancelled licences will not receive any compensation on account of development expenditure incurred to date, meaning these will have to be written off. They can bid for the same coal blocks when they come back on the market, while it will be an open bidding process. Furthermore, they will now have to pay for externally sourced coal, resulting in higher operating costs. The SCI's decision also levies a fine of INR295/tonne on coal produced to date from the mines affected, which could amount to INR73bn (USD1.2bn), Fitch says in its latest research report.
The negative financial impact will vary significantly depending on the company. Current credit profiles are likely to remain intact for Fitch-rated steel and power companies. The ruling has no immediate direct impact on Tata Steel Limited (BB+/Stable) and Steel Authority of India Limited (SAIL, BBB-/Stable). All but one of their operational coal mines were allocated before 1993, which are exempt from the decision. In addition, SAIL's one operational mine which was allocated after 1993 was one of the four licences upheld by the SCI as valid. The cancellation of non-operational coal licenses will not hurt credit profiles, as these have not been factored into Fitch's long-term financial projections for these companies.
Power Company NTPC Limited (BBB-/Stable) could be more vulnerable to the decision, though Fitch maintains that the broader impact will still be relatively small. Pakhri Barwadih, an NTPC mine nearing production, has been exempt from the cancellation. The status of the other nine of NTPC's 10 coal blocks is uncertain, as it is not very clear if they are also exempt - owing to the fact that NTPC is a state-owned entity. The company had expected that its captive mines would be able to serve 4.3% of its coal requirements in FY15 - rising further to 15% by FY17.
The potential long-term effects of the decision on the wider power and steel sectors will depend largely on how quickly the government proceeds with re-auctioning the licences. This could lead to more efficient development of these coal blocks in the long term should the new process go quickly. Uncertainty regarding the original allocation process had previously contributed in part to the underdevelopment and utilisation of these blocks.
However, it is important to highlight that a new and transparent auction process is just one factor needed to boost coal production in India. Other key challenges remain, including tough environmental clearances and regulatory approvals.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
Tuesday, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
|
|
|
Showing 3406 to 3410 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Lanco Infratech Ltd - India
|
| |
| |
|
